Lyrical: The Best Active Managers Are Patient And ACTIVE

Lyrical Asset Management may fly under the radar of most value investors, but the managed account and 1940 Act Mutual Fund provider deserves at least some attention.

For 2016 the asset manager’s U.S. Value Equity-EQ and U.S. Value Equity-CS composites produced gross returns of +16.0% (+15.1% net) and +16.3% (+14.9% net), respectively. Comparatively, the S&P 500 and Russell 1000 Value produced total returns of +12.0% and +17.3%, respectively. 73% of the composite index investments posted gains and 62% outperformed the S&P 500. Since inception, 83% of investments have posted gains and 67% have outperformed the S&P 500.

Turnover for the year stood at a highly impressive 12% and since inception, it stands at 15% annualized. Only four stocks were sold and...